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wWMQMPEV XS XLSWI I\TIGXIHx ?WII E A 8LMW VIUYMVI QIRXMWMQTSVXERXXSIRWYVIEGGITXEFPIGSRGVIXI 'SRGVIXIJSVFEGOKVSYRHXIWXWXSHIXIVQMRIWXERHEVHHIZME XMSR MW GSRWMHIVIH XS FI wWMQMPEVx XS XLEXVIUYMVIH MJQEHI [MXL XLI WEQI KIRIVEPX]TIW SJ MRKVIHMIRXW YRHIV RS QSVI VIWXVMGXMZI GSRHMXMSRW SJ GSRXVSP SZIV QEXIVMEP UYEPMX] ERH TVSHYGXMSR QIXLSHW XLER SR XLI TVSTSWIH [SVO ERH MJ MXW WTIGMJMIHWXVIRKXLHSIWRSXHIZMEXIQSVIXLERTWMJVSQ XLI JG VIUYMVIH ?WII F A % GLERKI MR XLI X]TI SJ GSRGVIXI SV E QENSV MRGVIEWI MR XLI WXVIRKXL PIZIP QE] MRGVIEWI XLI WXERHEVH HIZMEXMSR 7YGL E WMXYEXMSR QMKLX SGGYV [MXL E GLERKI MR X]TI SJ EKKVIKEXI XLEX MW JVSQ REXYVEPEKKVIKEXIXSPMKLX[IMKLXEKKVIKEXISVZMGIZIVWE SV E GLERKI JVSQ RSREMVIRXVEMRIH GSRGVIXI XS EMVIRXVEMRIH GSRGVIXI%PWSXLIVIQE]FIERMRGVIEWIMRWXERHEVHHIZME XMSR[LIRXLIEZIVEKIWXVIRKXLPIZIPMWVEMWIHF] EWMKRMJM GERXEQSYRXEPXLSYKLXLIMRGVIQIRXSJMRGVIEWIMRWXERHEVH HIZMEXMSR WLSYPH FI WSQI[LEX PIWW XLER HMVIGXP] TVSTSV XMSREP XS XLI WXVIRKXL MRGVIEWI ;LIR XLIVI MW VIEWSREFPI )2:-6321)28%07869'896)7'3()'311)28%6= '3() '311)28%6= HSYFX ER] IWXMQEXIH WXERHEVH HIZMEXMSR YWIH XS GEPGYPEXI XLI VIUYMVIH EZIVEKI WXVIRKXL WLSYPH EP[E]W FI SR XLI GSRWIVZEXMZI LMKL WMHI 2SXIXLEXXLIGSHIYWIWXLIWXERHEVHHIZMEXMSRMRTSYRHWTIV WUYEVIMRGLMRWXIEHSJXLIGSIJJMGMIRXSJZEVMEXMSRMRTIVGIRX 8LIPEXXIVMWIUYEPXSXLIJSVQIVI\TVIWWIH EWE TIVGIRXSJ XLIEZIVEKIWXVIRKXL ;LIR EWYMXEFPI VIGSVH SJ XIWX VIWYPXW MW RSX EZEMPEFPI XLI EZIVEKI WXVIRKXL QYWX I\GIIH XLI HIWMKR WXVIRKXL F] ER EQSYRXXLEXVERKIWJVSQXSTWMHITIRHMRKSRXLI HIWMKRWXVIRKXL7II8EFPI )ZIR[LIRXLIEZIVEKIWXVIRKXLERHWXERHEVHHIZMEXMSREVI SJXLIPIZIPWEWWYQIHXLIVI[MPPFISGGEWMSREPXIWXWXLEXJEMP XS QIIX XLI EGGITXERGI GVMXIVME TVIWGVMFIH MR TIVLETWXIWXMR {;LIVIEGSRGVIXITVSHYGXMSRJEGMPMX]LEWXIWX VIGSVHW E WXERHEVHHIZMEXMSRWLEPP FI IWXEFPMWLIH 8IWX VIGSVHWJVSQ[LMGLEWXERHEVHHIZMEXMSRMWGEPGYPEXIH E 7LEPP VITVIWIRX QEXIVMEPW UYEPMX] GSRXVSP TVSGI HYVIWERHGSRHMXMSRWWMQMPEVXSXLSWII\TIGXIHERH GLERKIWMRQEXIVMEPWERHTVSTSVXMSRW[MXLMRXLIXIWX VIGSVHW WLEPP RSX LEZI FIIR QSVI VIWXVMGXIH XLER XLSWIJSVTVSTSWIH[SVO F 7LEPP VITVIWIRX GSRGVIXI TVSHYGIH XS QIIX E WTIGMJMIHWXVIRKXLSVWXVIRKXLWJG [MXLMRTWMSJ XLEXWTIGMJMIHJSVTVSTSWIH[SVO G 7LEPP GSRWMWX SJ EX PIEWX GSRWIGYXMZI XIWXWSV X[SKVSYTWSJ GSRWIGYXMZIXIWXWXSXEPMRKEXPIEWX XIWXW EW HIJMRIH MR I\GITX EW TVSZMHIH MR H 7LEPPGSRWMWXSJHEXEXLEXMWRSXQSVIXLERQSRXLW SPH {;LIVIEGSRGVIXITVSHYGXMSRJEGMPMX]HSIW RSXLEZIXIWXVIGSVHWQIIXMRKVIUYMVIQIRXWSJ FYXHSIWLEZIEVIGSVHFEWIHSRXSGSRWIGYXMZI XIWXWEWXERHEVHHIZMEXMSRWLEPPFIIWXEFPMWLIHEWXLI TVSHYGXSJXLIGEPGYPEXIHWXERHEVHHIZMEXMSRERHQSHM JMGEXMSRJEGXSVSJ 8EFPI8S FI EGGITXEFPI XIWX VIGSVHWLEPPQIIXVIUYMVIQIRXW E ERH F SJ 8%&0) { 13(-*-'%8-32*%'836*36 78%2(%6(():-%8-32 2SSJXIWXW 0IWWXLER 1SHMJMGEXMSRJEGXSVJSV WXERHEVHHIZMEXMSRj 9WIXEFPI SVQSVI -RXIVTSPEXIJSVMRXIVQIHMEXIRYQFIVWSJXIWXW j 1SHMJMIH WXERHEVH HIZMEXMSR XS FI YWIH XS HIXIVQMRI VIUYMVIH EZIVEKI WXVIRKXL JGV JVSQ 1%29%03*'32'6)8)46%'8-') '3() '311)28%6= ERHVITVIWIRXSRP]EWMRKPIVIGSVHSJGSRWIGYXMZIXIWXW XLEXWTERETIVMSHSJRSXPIWWXLERGEPIRHEVHE]W {6IUYMVIHEZIVEKIWXVIRKXL 6{6IUYMVIHEZIVEKIWXVIRKXL { 6IUYMVIH EZIVEKI GSQTVIWWMZI WXVIRKXL JGV YWIHEWXLIFEWMWJSVWIPIGXMSRSJGSRGVIXITVSTSV XMSRW WLEPP FI HIXIVQMRIH JVSQ 8EFPI YWMRK E WXERHEVH HIZMEXMSR GEPGYPEXIH MR EGGSVHERGI [MXL SV 6 { 3RGI XLI WXERHEVH HIZMEXMSR LEW FIIR HIXIV QMRIHXLIVIUYMVIHEZIVEKIGSQTVIWWMZIWXVIRKXLMWSFXEMRIH JVSQXLIPEVKIVZEPYIGSQTYXIHJVSQ)U ERH JSV JG SJTWMSVPIWWSVXLIPEVKIVZEPYIGSQTYXIHJVSQ )U ERH JSV JG SZIV TWM )UYEXMSR MW FEWIH SR E TVSFEFMPMX] SJ MR XLEX XLI EZIVEKI SJ XLVII GSRWIGYXMZI XIWXW QE] FI FIPS[ XLI WTIGMJMIH GSQTVIWWMZI WXVIRKXL J G )UYEXMSR MWFEWIH SR E WMQMPEV TVSFEFMPMX] XLEX ER MRHMZMHYEP XIWX QE] FI QSVI XLER TWM FIPS[ XLI WTIGMJMIHGSQTVIWWMZIWXVIRKXLJG )UYEXMSR MWFEWIHSR XLIWEQIMRTVSFEFMPMX]XLEXERMRHMZMHYEPXIWXQE]FI PIWW XLER JG 8LIWI IUYEXMSRW EWWYQI XLEX XLI WXERHEVH HIZMEXMSRYWIHMWIUYEPXSXLITSTYPEXMSRZEPYIETTVSTVMEXIJSV ERMRJMRMXISVZIV]PEVKIRYQFIVSJXIWXW*SVXLMWVIEWSRYWISJ WXERHEVH HIZMEXMSRW IWXMQEXIH JVSQ VIGSVHW SJ SV QSVI XIWXWMWHIWMVEFPI;LIRXIWXWEVIEZEMPEFPIXLITVSFEFMPMX] SJJEMPYVI[MPPPMOIP]FIWSQI[LEXKVIEXIVXLERMR8LI EHHMXMSREPVIJMRIQIRXWVIUYMVIHXSEGLMIZIXLIMRTVSFE FMPMX]EVIRSXGSRWMHIVIHRIGIWWEV]FIGEYWISJXLIYRGIVXEMRX] MRLIVIRXMREWWYQMRKXLEXGSRHMXMSRWSTIVEXMRK[LIRXLIXIWX VIGSVH[EWEGGYQYPEXIH[MPPFIWMQMPEVXSGSRHMXMSRW[LIRXLI GSRGVIXI[MPPFITVSHYGIH 8%&0){6)59-6)(%:)6%+) '3146)77-:)786)2+8,;,)2(%8% %6)%:%-0%&0)83)78%&0-7,% 78%2(%6(():-%8-32 7TIGMJMIHGSQTVIWWMZI WXVIRKXL JG TWM 6IUYMVIHEZIVEKIGSQTVIWWMZI WXVIRKXL JGV TWM 9WI XLI PEVKIV ZEPYI GSQTYXIH JVSQ)U ERH JGV !JG W JGV !JG Wz 3ZIV 9WI XLI PEVKIV ZEPYI GSQTYXIH JVSQ)U ERH JGV !JG W JGV !JG W JG %HHMXMSREPP]XLIGLERKIEHSTXIHMR%'- VIUYMVMRK EGXMSR XS MRGVIEWI XLI EZIVEKI WXVIRKXL [LIRIZIV IMXLIV SJ XLIEGGITXERGIGVMXIVMESJ MWRSXQIX MWGSRWMHIVIHXS TVSZMHIWMKRMJMGERXEHHMXMSREPTVSXIGXMSREKEMRWXWYFWIUYIRX PS[XIWXW {;LIREGSRGVIXITVSHYGXMSRJEGMPMX]HSIW RSXLEZIJMIPHWXVIRKXLXIWXVIGSVHWGYVVIRX[MXLMR]IEV JSV GEPGYPEXMSR SJ WXERHEVH HIZMEXMSR QIIXMRK VIUYMVI QIRXWSJSVVIUYMVIHEZIVEKIWXVIRKXL JGV WLEPPFIHIXIVQMRIHJVSQ8EFPIERHHSGY QIRXEXMSRSJEZIVEKIWXVIRKXLWLEPPFIMREGGSVHERGI [MXLVIUYMVIQIRXWSJ 8%&0){6)59-6)(%:)6%+) '3146)77-:)786)2+8,;,)2(%8%%6)238 %:%-0%&0)83)78%&0-7,%78%2(%6(():-%8-32 7TIGMJMIHGSQTVIWWMZIWXVIRKXL JG TWM XS 3ZIV 6IUYMVIHEZIVEKIGSQTVIWWMZI WXVIRKXL J GV TWM JG JG {(SGYQIRXEXMSRSJEZIVEKIWXVIRKXL 6{(SGYQIRXEXMSRSJEZIVEKIWXVIRKXL (SGYQIRXEXMSR XLEX TVSTSWIH GSRGVIXI TVSTSVXMSRW [MPPTVSHYGIEREZIVEKIGSQTVIWWMZIWXVIRKXLIUYEPXS SVKVIEXIVXLERVIUYMVIHEZIVEKIGSQTVIWWMZIWXVIRKXL 7II WLEPPGSRWMWXSJEJMIPHWXVIRKXLXIWXVIGSVH WIZIVEPWXVIRKXLXIWXVIGSVHWSVXVMEPQM\XYVIW 3RGIXLI VIUYMVIH EZIVEKI WXVIRKXL JGV MW ORS[R XLI RI\X WXIT MW XS WIPIGX QM\XYVI TVSTSVXMSRW XLEX [MPP TVSHYGI ER EZIVEKI WXVIRKXL EX PIEWX EW KVIEX EW XLI VIUYMVIH EZIVEKI WXVIRKXL ERH EPWS QIIX WTIGMEP I\TSWYVI VIUYMVIQIRXW SJ 'LETXIV8LIHSGYQIRXEXMSRQE]GSRWMWXSJEWXVIRKXLXIWX )2:-6321)28%07869'896)7'3()'311)28%6= '3() '311)28%6= {;LIRXIWXVIGSVHWEVIYWIHXSHIQSRWXVEXI XLEX TVSTSWIH GSRGVIXI TVSTSVXMSRW [MPP TVSHYGI XLI VIUYMVIH EZIVEKI WXVIRKXL JGV 7II WYGL VIGSVHW WLEPP VITVIWIRX QEXIVMEPW ERH GSRHMXMSRW WMQMPEV XS XLSWI I\TIGXIH 'LERKIW MR QEXIVMEPW GSRHMXMSRW ERH TVSTSVXMSRW [MXLMR XLI XIWX VIGSVHW WLEPP RSX LEZI FIIR QSVI VIWXVMGXIH XLER XLSWI JSV TVSTSWIH [SVO *SV XLI TYVTSWI SJ HSGYQIRXMRK EZIVEKI WXVIRKXL TSXIRXMEP XIWX VIGSVHW GSRWMWXMRK SJ PIWWXLERFYXRSXPIWWXLERGSRWIGYXMZIXIWXWEVI EGGITXEFPITVSZMHIHXIWXVIGSVHWIRGSQTEWWETIVMSH SJ XMQI RSX PIWW XLER HE]W 6IUYMVIH GSRGVIXI TVSTSVXMSRW WLEPP FI TIVQMXXIH XS FI IWXEFPMWLIH F] MRXIVTSPEXMSRFIX[IIRXLIWXVIRKXLWERHTVSTSVXMSRWSJ X[S SV QSVI XIWX VIGSVHW IEGL SJ [LMGL QIIXW SXLIV VIUYMVIQIRXWSJXLMWWIGXMSR VIGSVH WIZIVEP WXVIRKXL XIWX VIGSVHW SV WYMXEFPIPEFSVEXSV] XVMEPQM\XYVIW+IRIVEPP]MJEXIWXVIGSVHMWYWIHMX [MPPFI XLIWEQISRIXLEX[EWYWIHJSVGSQTYXEXMSRSJXLIWXERHEVH HIZMEXMSR -J XLMW XIWX VIGSVH WLS[W IMXLIV PS[IV SV LMKLIV EZIVEKI WXVIRKXL XLER XLI VIUYMVIH EZIVEKI WXVIRKXL LS[IZIV HMJJIVIRX TVSTSVXMSRW QE] FI RIGIWWEV] SV HIWMV EFPI-RWYGLMRWXERGIWXLIEZIVEKIJVSQEVIGSVHSJEWJI[ EW XIWXWQE] FI YWIH SV XLI TVSTSVXMSRW QE] FIIWXEF PMWLIH F] MRXIVTSPEXMSR FIX[IIR XLI WXVIRKXLW ERH TVSTSV XMSRW SJ X[S WYGL 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GEPGYPEXIH VIEGXMSR XS XLI JEGXSVIH PSEHMRK YWIH XS TVSHYGI XLI WEQI VIUYMVIH WXVIRKXL GSRHMXMSRW VIKEVHMRK JPI\YVI WLIEV ERH HIZIPSTQIRX SJ VIMRJSVGIQIRX MR XLI JSSXMRKSVTMPIGETEWMRER]SXLIVQIQFIV -R XLI GEWI SJ IGGIRXVMG PSEHMRK PSEH JEGXSVW QE] GEYWI IGGIRXVMGMXMIW ERH VIEGXMSRW XLEX EVI HMJJIVIRX JVSQ XLSWI SFXEMRIHF]YRJEGXSVIHPSEHW ;LIRXLIEPXIVREXIHIWMKRQIXLSHSJ%TTIRHM\-MWYWIHJSV HIWMKRSJ JSSXMRKW XLI WSMP FIEVMRK TVIWWYVIW SV TMPI VIEG XMSRW EVI XLSWI GEYWIH F] XLI WIVZMGI PSEHW [MXLSYX PSEH JEGXSVW 8LITIVQMWWMFPIWSMPTVIWWYVIWSVTIVQMWWMFPITMPI VIEGXMSRWEVIIUYEXIHHMVIGXP][MXLXLIETTPMIHWIVZMGIPSEH TVIWWYVIWSVVIEGXMSRWXSHIXIVQMRIFEWIEVIESJJSSXMRKSV RYQFIVERHEVVERKIQIRXSJTMPIW;LIRPEXIVEPPSEHWHYIXS [MRH SV IEVXLUYEOI EVI MRGPYHIH MR XLI KSZIVRMRK PSEH GSQFMREXMSRJSVJSSXMRKWEHZERXEKIQE]FIXEOIRSJXLI TIVGIRXVIHYGXMSRMRVIUYMVIHWXVIRKXLMREGGSVHERGI[MXL 7IGXMSR- {*SSXMRKWWYTTSVXMRKGMVGYPEVSV VIKYPEVTSP]KSRWLETIHGSPYQRW SVTIHIWXEPW *SVPSGEXMSRSJGVMXMGEPWIGXMSRWJSVQSQIRXWLIEVERH HIZIPSTQIRX SJ VIMRJSVGIQIRX MR JSSXMRKW MX WLEPP FI TIVQMXXIH XS XVIEX GMVGYPEV SV VIKYPEV TSP]KSR WLETIH GSRGVIXI GSPYQRW SV TIHIWXEPW EW WUYEVI QIQFIVW [MXLXLIWEQIEVIE {1SQIRXMRJSSXMRKW {)\XIVREPQSQIRXSRER]WIGXMSRSJEJSSXMRK WLEPP FI HIXIVQMRIH F] TEWWMRK E ZIVXMGEP TPERI XLVSYKLXLIJSSXMRKERHGSQTYXMRKXLIQSQIRXSJXLI JSVGIWEGXMRKSZIVIRXMVIEVIESJJSSXMRKSRSRIWMHISJ XLEXZIVXMGEPTPERI { 1E\MQYQ JEGXSVIH QSQIRX JSV ER MWSPEXIH JSSXMRK WLEPP FI GSQTYXIH EW TVIWGVMFIH MR EX GVMXMGEPWIGXMSRWPSGEXIHEWJSPPS[W E %XJEGISJGSPYQRTIHIWXEPSV[EPPJSVJSSXMRKW WYTTSVXMRKEGSRGVIXIGSPYQRTIHIWXEPSV[EPP F ,EPJ[E] FIX[IIR QMHHPI ERH IHKI SJ [EPP JSV JSSXMRKWWYTTSVXMRKEQEWSRV][EPP G ,EPJ[E] FIX[IIR JEGI SJ GSPYQR ERH IHKI SJ WXIIP FEWI TPEXI JSV JSSXMRKW WYTTSVXMRK E GSPYQR [MXLWXIIPFEWITPEXI 6{1SQIRXMRJSSXMRKW )2:-6321)28%07869'896)7'3()'311)28%6= '3() '311)28%6= { -R SRI[E] JSSXMRKW ERH X[S[E] WUYEVI JSSXMRKW VIMRJSVGIQIRX WLEPP FI HMWXVMFYXIH YRMJSVQP] EGVSWWIRXMVI[MHXLSJJSSXMRK { -R X[S[E] VIGXERKYPEV JSSXMRKW VIMRJSVGI QIRX WLEPPFI HMWXVMFYXIHMR EGGSVHERGI [MXL ERH {6IMRJSVGIQIRXMRPSRKHMVIGXMSRWLEPPFI HMWXVMFYXIHYRMJSVQP]EGVSWWIRXMVI[MHXLSJJSSXMRK { *SV VIMRJSVGIQIRX MR WLSVX HMVIGXMSR E TSVXMSR SJ XLI XSXEP VIMRJSVGIQIRX KMZIR F] )U WLEPP FI HMWXVMFYXIH YRMJSVQP] SZIV E FERH [MHXL GIRXIVIHSRGIRXIVPMRISJGSPYQRSVTIHIWXEP IUYEPXS XLI PIRKXL SJ WLSVX WMHI SJ JSSXMRK 6IQEMRHIV SJ VIMR JSVGIQIRXVIUYMVIHMRWLSVXHMVIGXMSRWLEPPFIHMWXVMFYXIH YRMJSVQP]SYXWMHIGIRXIVFERH[MHXLSJJSSXMRK 6IMRJSVGIQIRXMR FERH[MHXL ! 8SXEPVIMRJSVGIQIRX MRWLSVXHMVIGXMSR 6 {-RTVIZMSYW%'-&YMPHMRK'SHIWXLIVIMRJSVGIQIRX MR XLI WLSVX HMVIGXMSR SJ VIGXERKYPEV JSSXMRKW WLSYPH FI HMWXVMFYXIH WS XLEX ER EVIE SJ WXIIP KMZIR F] )U MW TVSZMHIH MR E FERH [MHXL IUYEP XS XLI PIRKXL SJ XLI WLSVX WMHI SJ XLI JSSXMRK 8LI FERH [MHXL MW GIRXIVIH EFSYX XLI GSPYQRGIRXIVPMRI 8LIVIQEMRMRKVIMRJSVGIQIRXVIUYMVIHMRXLIWLSVXHMVIGXMSR MW XS FI HMWXVMFYXIH IUYEPP] SZIV XLI X[S WIKQIRXW SYXWMHI XLIFERH[MHXLSRILEPJXSIEGLWIKQIRX {7LIEVMRJSSXMRKW 6{7LIEVMRJSSXMRKW {7LIEVWXVIRKXLSJJSSXMRKWWLEPPFIMREGGSV HERGI[MXL 6ERH6{8LIWLIEVWXVIRKXLSJJSSXMRKWEVI HIXIVQMRIH JSV XLI QSVI WIZIVI GSRHMXMSR SJ SV 8LI GVMXMGEP WIGXMSR JSV WLIEV MW QIEWYVIH JVSQ XLIJEGI SJWYTTSVXIHQIQFIV GSPYQRTIHIWXEP SV [EPP I\GITXJSVWYTTSVXIHQIQFIVWSRWXIIPFEWITPEXIW {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{1SHMJMIHGVMXMGEPTIVMQIXIVJSVWLIEV[MXLSZIV PETTMRKGVMXMGEPTIVMQIXIVW 1%29%03*'32'6)8)46%'8-') '3() '311)28%6= {;LIVIXLIHMWXERGIFIX[IIRXLIE\MWSJER] TMPI XS XLIE\MWSJXLIGSPYQR MW QSVI XLERX[S XMQIW XLIHMWXERGI FIX[IIR XLI XSTSJ XLI TMPI GET ERH XLI XST SJ XLI TMPI XLI TMPI GET WLEPP WEXMWJ] ERH 3XLIVTMPIGETWWLEPPWEXMWJ]SV 6 { ;LIR TMPIW EVI PSGEXIH MRWMHI XLI GVMXMGEP WIGXMSRW H SV HJVSQJEGISJGSPYQRJSVSRI[E]SVX[S [E]WLIEVVIWTIGXMZIP]ERYTTIVPMQMXSRXLIWLIEVWXVIRKXL EX E WIGXMSR EHNEGIRX XS XLI JEGI SJ XLI GSPYQR WLSYPH FI GSRWMHIVIH 8LI '67- ,ERHFSSO SJJIVW KYMHERGI JSV XLMWWMXYEXMSR { 'SQTYXEXMSR SJ WLIEV SR ER] WIGXMSR XLVSYKLEJSSXMRKWYTTSVXIHSRTMPIWWLEPPFIMREGGSV HERGI[MXLERH { )RXMVI VIEGXMSR JVSQ ER] TMPI [LSWI GIRXIVMWPSGEXIHHT SVQSVISYXWMHIXLIWIGXMSRWLEPP FIGSRWMHIVIHEWTVSHYGMRKWLIEVSRXLEXWIGXMSR { 6IEGXMSR JVSQ ER]TMPI[LSWI GIRXIV MW PSGEXIH HT SV QSVI MRWMHI XLI WIGXMSR WLEPP FI GSRWMHIVIHEWTVSHYGMRKRSWLIEVSRXLEXWIGXMSR {*SVMRXIVQIHMEXITSWMXMSRWSJTMPIGIRXIV XLI TSVXMSR SJ XLI TMPI VIEGXMSR XS FI GSRWMHIVIH EW TVSHYGMRK WLIEV SR XLI WIGXMSR WLEPP FI FEWIH SR WXVEMKLXPMRI MRXIVTSPEXMSR FIX[IIR JYPP ZEPYI EX HT SYXWMHIXLI WIGXMSR ERH^IVS ZEPYI EX HT MRWMHI XLI WIGXMSR {(IZIPSTQIRXSJVIMRJSVGIQIRXMR JSSXMRKW { (IZIPSTQIRX SJ VIMRJSVGIQIRX MR JSSXMRKW WLEPPFIMREGGSVHERGI[MXL'LETXIV { 'EPGYPEXIH XIRWMSR SV GSQTVIWWMSR MR VIMR JSVGIQIRXEXIEGLWIGXMSRWLEPPFIHIZIPSTIHSRIEGL WMHISJXLEXWIGXMSRF]IQFIHQIRXPIRKXLLSSO XIRWMSR SRP] SVQIGLERMGEPHIZMGISVEGSQFMREXMSRXLIVISJ { 'VMXMGEP WIGXMSRW JSV HIZIPSTQIRX SJ VIMR JSVGIQIRXWLEPPFIEWWYQIHEXXLIWEQIPSGEXMSRWEW HIJMRIHMR JSVQE\MQYQJEGXSVIHQSQIRXERH EXEPPSXLIVZIVXMGEPTPERIW[LIVIGLERKIWSJWIGXMSRSV VIMRJSVGIQIRXSGGYV7IIEPWS {1MRMQYQJSSXMRKHITXL (ITXLSJJSSXMRKEFSZIFSXXSQVIMRJSVGIQIRXWLEPPRSX FIPIWWXLERMRJSVJSSXMRKWSRWSMPRSVPIWWXLERMR JSVJSSXMRKWSRTMPIW {8VERWJIVSJJSVGIEXFEWISJGSPYQR [EPPSVVIMRJSVGIHTIHIWXEP 6{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{*SVGIWERHQSQIRXWEXFEWISJGSPYQR[EPP SVTIHIWXEPWLEPPFIXVERWJIVVIHXSWYTTSVXMRKTIHIWXEPSV JSSXMRK F] FIEVMRK SR GSRGVIXI ERH F] VIMRJSVGIQIRX HS[IPWERHQIGLERMGEPGSRRIGXSVW { &IEVMRK SR GSRGVIXI EX GSRXEGX WYVJEGI FIX[IIR WYTTSVXIH ERH WYTTSVXMRKQIQFIVWLEPPRSX I\GIIHGSRGVIXIFIEVMRKWXVIRKXLJSVIMXLIVWYVJEGIEW 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